Akron vs Richmond

Category-by-Category Breakdown

Index values · National average = 100 · Lower is more affordable

Salary Equivalence

A $75,000 salary in Akron has the same purchasing power as $95,370 in Richmond.

Conversely, $75,000 in Richmond equals $58,981 in Akron.

Living in Akron vs Richmond

Housing Costs

Akron's housing index of 60 is lower Richmond's 108, translating to median home prices of $146,000 vs $300,000. The $154,000 difference in home prices means roughly $10,008 per year in additional mortgage costs at current rates. Renters face a similar gap: $875/mo in Akron compared to $1,400/mo in Richmond, a monthly difference of $525.

Grocery & Food Costs

Grocery expenses index at 106 in Akron and 100 in Richmond. A household spending the national average of $475/month on groceries would pay approximately $504/month in Akron vs $475/month in Richmond. Richmond offers a meaningful advantage on everyday food costs, saving roughly $348/year.

Utility Expenses

Utility costs — electricity, gas, water, internet — index at 80 in Akron and 97 in Richmond. Monthly utility bills average approximately $320 in Akron vs $388 in Richmond. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.

Healthcare

Healthcare costs index at 88 in Akron and 100 in Richmond. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 12-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.

Income & Purchasing Power

Median household income is $48,500 in Akron and $50,120 in Richmond. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $59,877 and $48,660 respectively. Akron residents enjoy stronger real purchasing power despite lower nominal wages.

Relocation Considerations

Under the standard 28% rule, a median-income household can allocate $1,132/month to housing in Akron vs $1,169/month in Richmond. In Akron, median rent of $875/mo fits within this budget. In Richmond, median rent of $1,400/mo pushes past the recommended limit. The biggest category-level difference between these two cities is Housing, where the gap is 48 index points — focus your budget analysis there.

Frequently Asked Questions

Moving & Relocation Resources

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